New “Jobs Bill” Eyed - December 8, 2009

With the economy recovering more slowly than many predicted, the White House and Congress are discussing passage of a “jobs creation bill” in the near future. The legislation would likely have significantly less funding than the American Recovery and Reinvestment Act (ARRA), passed earlier this year, and would be more focused on immediate job creation. While timing remains uncertain, House leaders are considering whether to attempt to pass their version of the legislation this month. Senate leaders would not formally take up the issue until after that chamber passes its health care reform bill. The legislation might be funded by unused funds from the Troubled Asset Relief Program (TARP).